Getting a mortgage can be difficult for many Canadians, especially those with a low credit score. If you’re in this situation, you may consider having someone co-sign the loan with you, which could potentially make it easier to get approved. In this article, we’ll explore what co-signing is and discuss some of the benefits and considerations that come along with it when obtaining a mortgage in Canada. Read More
Edmonton Real Estate Blog
Sterling Homes Real Estate Blog brings you the latest market news and property listings, as well as tips for buying or selling a home in Edmonton.
Mortgages are a crucial part of Canadian life, and getting one can be complicated if you don’t know what to expect. One of the many documents you may be required to provide to your lender is an employment letter. But what is a mortgage employment letter, and what information does it contain?
In this article, we’ll take a closer look at mortgage employment letters (also called a letter of employment or a job letter) and explain what they’re used for and how to get one. So if you’re planning on buying a home in Canada, be sure to read this! Read More
Many travellers today are looking for more personalized experiences than they can find at traditional hotels, and Airbnb has become extremely popular as a result. In this article, we’ll cover the basics of Airbnb in Edmonton, from what it is to how much you can make. We’ll also give you some tips on getting started and making it easier to run your Airbnb once it’s set up.
Whether you’re looking to run an Airbnb for extra income or as a full-time business, there are a few things you need to know (and you can make good money by renting out your home to travellers through Airbnb!) So if you’re just curious about Airbnb or ready to dive in, keep reading! Read More
Housing affordability is an important factor that’s on the minds of a lot of home buyers, particularly when market prices are on the rise and the economy is more unpredictable than usual. But what exactly do we mean by housing affordability and how can it affect you when it comes to buying your dream home? Let’s take a look at some of the key factors. Read More
Shopping for a new home is an exciting time, filled with anticipation and possibilities. While finding exactly the right home for your family’s needs is the main goal, you do need to look at the process overall. One of the key components of the home buying process is making the offer, which means you need a mortgage pre-approval and with that comes the mortgage commitment letter.
A mortgage pre-approval reviews your credit history, credit score, current employment and income, and any outstanding debts you have. At this stage, lenders preliminarily determine your qualification for a loan and the amount you’d qualify for in your current situation. From this, they issue you a mortgage commitment letter.
Let’s find out more about this important document and what part it plays when it comes to buying your new home. Read More
One of the most important aspects of the home-buying process is knowing what to expect — especially when it comes to new home costs. The thought of buying a home can be daunting, and you don’t want to be taken by surprise with any unexpected fees. Knowing potential surprises in regards to the costs of buying a home will help you prepare financially and mentally. Read More
From pre-approval to closing day, the entire mortgage process can be a stressful experience, even when everything goes to plan. But while everyone will always do their best to make sure the process goes smoothly, there’s always room for error. Read More
With the easy availability of credit these days, it’s rare to have to save up a significant amount of money to make a purchase. For most, the one exception to this rule is the down payment on a home. Canadian mortgage rules require you to… Read More
Wouldn’t it be nice if you could make money using someone else’s money?
You can! That’s what happens when you take out a mortgage to purchase an investment property. Sure, you need to put some of your own money down for the down payment, but the bulk of your purchase is borrowed. You can then use the income you earn from tenants to pay down the principal balance and build up your equity. Read More
You’ve already achieved your dream of homeownership, and now you’re starting to think about a second home now. Maybe it’s a nice vacation home so that your family can spend the summers relaxing by the beach or the winters hitting the slopes. Maybe you’re looking for a new place to live but realize that your current place is the perfect rental unit. Read More